Archive for 2017

Bizfi Survives, Thanks to World Business Lenders Asset Purchase Deal

September 22, 2017
Article by:

World Business Lenders - Bizfi

The Bizfi marketplace is slated to live on, according to Stephen Sheinbaum who joined World Business Lenders (WBL) as a managing director in July. On Wednesday, WBL purchased several assets from Bizfi including the brand, the marketplace, the Next Level Funding renewal book, and other related pieces of the company, he says. Sheinbaum founded Bizfi […]

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C-level Credit Exec Leaves Lending Club for Affirm

September 21, 2017
Article by:

business team

Lending Club’s Chief Credit Officer and Interim General Manager, Sandeep Bhandari, has joined fintech lender Affirm, according to Affirm CEO Max Levchin. Levchin posted the following on LinkedIn: I am excited to announce and welcome Sandeep Bhandari to Affirm, Inc. as Chief Strategy and Risk Officer (CSRO). Sandeep joins us from Lending Club where he […]

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What Will it Take to Grow OnDeck’s Stock Price?

September 20, 2017
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ondeck capital ipo

OnDeck closed at the exact same price on September 14th as it did on July 20th, $4.58. In between, OnDeck reported one of their best quarters ever (they released their 2nd quarter earnings on August 7th) and experienced a temporary boost to $5. Even then, the stock was 75% down from the IPO price and […]

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CFPB’s Small Business Lending RFI is Now Closed

September 18, 2017
Article by:

Rich Cordray CFPB

The window to share your two cents on the CFPB’s quest to collect data on small business lending has closed. The extended deadline to respond to the RFI was September 14th. The agency received 2,668 comments, 650 of which you can read online. Most responses that deBanked reviewed asked the CFPB to exempt certain businesses […]

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New CTO at Breakout Capital is Former CTO of Capital One Labs

September 18, 2017
Article by:

Welcome aboard

Firoze Lafeer, the former Capital One Head of Tech Fellows Program and CTO, Capital One Labs, is now the CTO of Breakout Capital, a Breakout representative confirmed. Lafeer was with Capital One for five years, most recently running the company’s experimental product & technology incubator and accelerator. Breakout Capital is a fintech small business lender […]

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The Top Small Business Funders By Revenue

September 14, 2017
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revenue rankings

Thanks to the Inc 5000 list on private companies and earnings statements from public companies, we’ve been able to compile rankings of alternative small business financing companies by revenue. Companies that haven’t published their figures are not ranked. SMB Funding Company 2016 Revenue 2015 Revenue Notes Square $1,700,000,000 $1,267,000,000 Went public November 2015 OnDeck $291,300,000 […]

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The Google Battle for Lending and SMB Finance Keywords

September 14, 2017
Article by:

google search

The online lending battle is at least in part being fought online. Below is a chart of organic page 1 rankings in Google for some of the industry’s biggest players, banks, and the SBA. (Hat tip to Fundera and NerdWallet): Keywords OnDeck Kabbage Fundera Lending Club NerdWallet National Funding Traditional Banks SBA.gov business loan 1 […]

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PayPal’s Global Head of Product Comm Joins Lending Club

September 14, 2017
Article by:

35884857 - businesswoman hands holding white card sign with welcome aboard text message isolated on grey wall office background.

Anuj Nayar, PayPal’s global head of product communications, has moved on to Lending Club as VP and head of communications, according to published reports. Nayar was also previously Head of Mac Public Relations at Apple from 2003 to 2008. At PayPal, Nayar was the primary spokesperson on a range of proactive and reactive issues, according […]

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Where Alternative Finance Ranks on the Inc 5000 List

September 14, 2017
Article by:

rankings

Here’s where your peers rank on the Inc 5000 list for 2017: Ranking Company Name Growth Revenue Type 15 Forward Financing 12,893.16% $28.3M MCA 47 Avant 6,332.56% $437.9M Online Consumer Lender 219 OppLoans 1,970.22% $27.9M Online Consumer Lender 260 US Business Funding 1,657.42% $5.8M Business Lender 361 nCino 1,217.53% $2.4M Software 449 Kabbage 979.31% $171.8M […]

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Bond Street Has Stopped Lending

September 13, 2017
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bond street

NYC-based small business lender Bond Street has stopped making new loans, according to sources who worked with them. The Wall Street Journal published a similar report earlier today. In addition, the WSJ reported that Goldman Sachs is hiring 20 of Bond Street’s employees. Just seven months ago, Bond Street announced that they had closed a […]

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